2020: An Optimist’s View

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The War for Talent Will Create Winners and Losers as Never Seen Before.

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While the War for Talent has certainly been raging for the last decade, I see 2020 as a pivotal year for business relative to talent. Those who understand that making their talent strategy their number one priority will win and win big, while those who take the status quo route clearly don’t understand this existential threat.

Why is 2020 so critical? 

A unique dynamic faces U.S. businesses, with boomers retiring at an accelerated rate, a hot economy adding jobs at record speed, next generations having a different philosophy relative to work, and tougher immigration laws for skilled workers. These four dynamics combined create a dangerous and toxic cocktail, that will pressure businesses to extreme levels, with many actually failing.

Today, as we cross the country visiting and engaging with clients, we see dangerous stress fractures facing business of all sides. 

In the past, growth strategies based on solid services, products and solutions were constrained primarily by working capital. But today and well into 2020, we believe money will remain both available and cheap. The threat is available talent and retaining talent.

So why do I see a paradox of optimism with the threat of business doom? 

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I believe that 60-65% of businesses will set a talent agenda as their #1 priority. They will invest in their current teams, with profound, exciting and motivating next generation training, unleashing a 20 -25% efficiency. 

I also see 60-65% of businesses understanding the power of part time and flexible employment, creating reentry into the workforce of talented Americans.  

I see enlightened small and medium businesses hiring culture changing talent managers who understand the environment needed for 2020 and beyond. 

I see some companies understanding the power of diversity.

Sadly, history teaches us that companies are fragile and many once strong companies have been brought to their knees from ignored threats. Those who don’t make talent their # 1 priority will stumble, some fatally.